Rhode Island Boat Insurance

Find the Best Boat Insurance Rates & Companies in Rhode Island

Rhode Island is surrounded by Atlantic waters, and many residents enjoy relaxing by taking their watercraft out on the rivers, bays, and open sea. But before enjoying fishing or parasailing, remember that threats like collisions, lawsuits, theft, and vandalism are always present for boaters. The safest way to protect yourself financially from the risks you face on the water is by purchasing Rhode Island boat insurance.

Luckily, a Rhode Island independent insurance agent can help you find the right boat insurance for the job. They'll make sure you get set up with all the coverage you need. First, though, here's a breakdown of boat insurance requirements in Rhode Island and more.

Best Boat Insurance Companies in Rhode Island

Knowing where to find the best boat insurance in Rhode Island can help you save a tremendous amount of time and effort when shopping for coverage. Start by checking out these top-rated Rhode Island boat insurance carriers.

1. Foremost: This carrier offers boat insurance and many other kinds of personal insurance products. Foremost has excellent AM Best and Better Business Bureau (BBB) ratings and offers 24/7 claims reporting.
2. Progressive: This carrier offers boat insurance and many other kinds of personal and business insurance. Progressive has an excellent AM Best rating and offers year-round, 24/7/365 customer service.
3. Travelers: This carrier offers boat insurance and several other kinds of personal and business insurance. Travelers also has excellent AM Best and BBB ratings and offers many boat insurance discounts.

A Rhode Island independent insurance agent can help you find the right policy from one of these outstanding carriers or others who offer coverage in your area.

What Boat Insurance in Rhode Island Can Cover

Your boat insurance policy will most likely include several types of coverage. In Rhode Island, you can typically choose from the following boat insurance coverages:

• Boating liability insurance: This covers expenses related to third-party claims of bodily injury or personal property damage caused by your boat.
• Collision insurance: Pays for damage to your boat from a collision with another object, regardless of fault. 
• Towing insurance: This covers towing expenses if your boat becomes disabled on the water due to issues like engine or steering failure.
• Fuel spill/wreckage cleanup insurance: This covers expenses related to the clean-up of boat wreckage and pollutants from the water if you're responsible for a collision.
• Comprehensive insurance: Pays for damage to your boat due to a non-collision event such as a flood or theft. 
• Medical payments insurance: This covers medical expenses for you or your passengers after a boating accident, regardless of fault.
• Uninsured/underinsured boater insurance: This covers property damage and medical expenses if you're involved in a boating accident with a boater who doesn't carry adequate coverage of their own.
• Equipment insurance: This covers expenses related to the loss, damage, theft, etc., to any equipment or accessories not originally installed by the manufacturer, such as GPS units, boat hoists, marine instruments, etc.
• Personal effects insurance: This covers expenses related to the theft, damage, loss, or destruction of personal items such as scuba gear, cameras, cellphones, fishing gear, water skis, etc.

A Rhode Island independent insurance agent can help you build the ideal boat insurance policy for your needs.

Is Boat Insurance Required in Rhode Island?

Rhode Island doesn't mandate boat insurance by state law. However, many people still choose to get boat insurance to protect against various potential losses. In case of a collision, theft, vandalism, or another boating-related incident, having boat insurance can provide critical reimbursement and save you thousands of dollars or even more.

Boat insurance may also be required in certain instances, even if not by state law. For example, many marinas require boaters to have insurance before they can dock there. Further, most lenders require boaters to have insurance before they're approved to finance their watercraft.

What Boat Insurance in Rhode Island Will Not Cover

Like any other type of coverage, boat insurance has its own exclusions that are important to be aware of. In Rhode Island, boat insurance typically doesn't cover:

• Damage to your boat's trailer
• Damage caused by insects, animals, or marine life to watercraft
• Wear and tear damage to watercraft
• Faulty or defective machinery damage (without the right endorsement)
• Malicious or intentional acts to third parties or their property
• Mold damage to watercraft

Be aware of your boat insurance policy's unique coverage exclusions to avoid filing claims that are bound to get denied by your insurance company.

Average Cost of Boat Insurance in Rhode Island

In Rhode Island, boat insurance costs an average of $527 per year. However, the cost of boat insurance might vary depending on the following:

• The types and amounts of coverage you choose
• Your driving record and claims history
• How frequently you operate your boat
• Your boat's make, model, length, and engine size
• Where the boat is stored when not in use 

Your specific location and crime rates in that area can also impact boat insurance rates.

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What Boat Insurance Discounts Are Available in Rhode Island?

Often, you can earn numerous discounts on boat insurance from many carriers. The discounts offered vary by insurance company, but in general, here are a few of the most common boat insurance discounts in Rhode Island:

• Security discounts: Protecting your watercraft against theft, vandalism, etc., with security devices can often earn you a discount.
• Lay-up discounts: Using your boat only during summer can often earn you a discount.
• Loyalty discounts: Continuing your coverage with the same boat insurance carrier for a set number of years can often start to earn you a discount over time.
• Affiliation discounts: Being affiliated with a certain alma mater, company, or organization can often earn you a discount.
• Boater safety course discounts: Completing a state-approved boater safety course can often earn you a discount.
• Bundling discounts: Bundling boat insurance with home insurance, auto insurance, or another policy through the same carrier can often earn you a discount on each type of coverage.

A Rhode Island independent insurance agent can apply any boat insurance discounts you've earned to your policy to help reduce your premiums as much as possible.

Popular Questions about Rhode Island Boat Insurance